Summer Real Estate Report
“The Albuquerque-area housing market has changed quite a bit in the last year. After many years of being a buyer’s market, sellers can now expect a swing in the other direction,” says HomeAdvantage® agent Jessica Martin of Realty One of New Mexico. “With inventory hovering around 3,000 homes in Albuquerque, Rio Rancho, and the surrounding areas, we are seeing a rise in home prices and multiple offers on listings.”
Median sales in the Albuquerque market have increased 5.6% to $198,000 for single family detached homes. Jessica expects prices to continue to rise.
In California, HomeAdvantage agent Meraj Khan of Better Homes and Gardens Tri-Valley Realty says the Livermore, Pleasanton, Dublin, and San Ramon markets have been robust in early 2018 and seem to be heading toward a busy summer season.
Like Albuquerque, inventory in the Tri-Valley area is low and homes are receiving multiple offers. “Homes that show well and are priced at fair market value receive multiple offers,” Meraj says. “Buyers are bidding as much as $100,000 over the asking price with no contingencies. Most purchases are as is.”
HomeAdvantage Resources and Rewards
If you’re in the market to buy or sell a home, register for the HomeAdvantage program for free online access to home listings, with information like neighborhood and school statistics and a list of trusted real estate agents. Plus, receive a cash reward*, equal to 20% of the agent’s commission when you use a HomeAdvantage agent and enroll in the program. Learn more and enroll.
*Cash Rewards are awarded through the HomeAdvantage program to buyers and sellers who select and use a real estate agent in the HomeAdvantage network. Home buyers or sellers are not eligible for Cash Rewards if they use an agent outside this network. Cash Rewards amounts are dependent on the commissions paid to the HomeAdvantage network agent. Obtaining a mortgage or use of any specific lending institution is not a requirement to earn Cash Rewards. If you are obtaining a mortgage, your lender may have specific rules on how Cash Rewards can be paid out. Cash Rewards are available in most states; however, they are void where prohibited by law or by the lender. Please consult with your lender for details that may affect you.
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